The Time Has Come !

If you confident of your execution skills and are sure you can limit losses to 1 point, why not.

 

I could not agree more JJ. That is precisely why as soon as I get this lovely flu off my back, I will jump into ES trading. As for the analogy to the NBA, I like that. This kind of thinking stimulates me to work harder.

 

Psychological barrier. Putting 50 contracts is a lot and I would only feel comfortable doing it when in my opinion the trade would almost be risk free. Also, hitting 50 contracts for one point is a lot of $$$$. If I could bang it twice a day, that would give me enough to live comfortably. Also, you only go through stress twice a day,instead of 10 times a day.

 

I like your strategy. I am starting with 1 contract and 6K. However, I will be using time not money as the indicator. So 1 contract for the first month. Then If that month was profitable, I go to 2. By profitable I do not mean 2 bucks over 6K at the end of the month. It has to be at least 10% of the original sum. However, no matter how well I do that first month, it is only 1 contract.

 

Then you are focusing on the money not the trade. Chances are you will not be successful.

 

I am willing to take them.


I was under the impression that there are many traders who have a daily limit and once they achieve it, they stop trading. There are those who can only concentrate for couple of hours and consequently make money only during that time. So I disagree with you on this one.

 

saxon:

We'll have to compare notes once we both get going on this.

 

I would highly recommend for you not to do it. Do not use time factor, it means nothing of you did not earn sufficient margin. By saying to yourself that extra contract is only allowed after margin (5K) is earned will help you not to tempt with too much size for your account.

It will also make it much easier after your size increase. If you start with 1, than 2, 3 …50, this means that your account will gradually increase as well. Once you reach 50 and your account is 250K, trading 50 will be like trading 1 today.

 

You got it pal!

 

Good points. I will consider your strategy and see if it will work in my situation. However, no matter what happens one way or the other, I will only trade 1 contract the first month. On that I am inflexible.

However, I must say your system makes a lot of sense. I grant you that.